Common use of DEBENTUREHOLDERS MAY NOT XXX Clause in Contracts

DEBENTUREHOLDERS MAY NOT XXX. (1) No Holder of any Debenture shall have the right to institute any action, suit or proceeding or to exercise any other remedy authorized or permitted by this Indenture or by law or by equity for the purpose of enforcing payment of principal or interest owing on any Debenture or for the execution of any trust or power hereunder, unless: (a) the Debentureholders, by Extraordinary Resolution, shall have made a request to the Trustee to take action hereunder or the Debentureholders' Request referred to in subsection 7.5(4) shall have been delivered to the Trustee, and the Trustee shall have been offered a reasonable opportunity either itself to proceed to exercise the powers hereinbefore granted or to institute an action, suit or proceeding in its name for such purpose; (b) the Debentureholders or any of them shall have furnished to the Trustee, when requested by the Trustee, sufficient funds and an indemnity in accordance with subsection 12.3(2); and (c) the Trustee shall have failed to act within a reasonable time thereafter. (2) In such event but not otherwise any Debentureholder, acting on behalf of himself and all other Debentureholders, shall be entitled to take proceedings in any court of competent jurisdiction such as the Trustee might have taken under section 7.5, but in no event shall any Debentureholder or combination of Debentureholders have any right to take any 144554\0512933.WP other remedy or proceedings; it being understood and intended that no one or more Holders of Debentures shall have any right in any manner whatsoever to enforce any right hereunder or under any Debenture except subject to the conditions and in the manner herein provided, and that all powers and trusts hereunder shall be exercised and all proceedings at law shall be instituted, had and maintained by the Trustee, except only as herein provided, and in any event for the equal benefit of all Holders of outstanding Debentures.

DEBENTUREHOLDERS MAY NOT XXX. (1) No Holder holder of any Debenture or coupon shall have the any right to institute any actionsuit, suit action or proceeding or to exercise any other remedy authorized or permitted by this Indenture or by law or by equity for the purpose of enforcing payment of principal any principal, premium or interest owing on any Debenture or coupon, or for the execution of any trust or power hereunder, unless: (a) or for the Debentureholdersappointment of a liquidator, by Extraordinary Resolutionreceiver or receiver and manager or to have the Bank wound up, or for any other remedy hereunder, unless such holder shall previously have given to the Trustee written notice of the happening of an event of default hereunder and of the continuance thereof for 30 days; nor unless the holders of at least 25% in principal amount of the Debentures then outstanding shall have made a written request to the Trustee to take action hereunder or the Debentureholders' Request referred to in subsection 7.5(4) and shall have been delivered afforded to the Trustee, and the Trustee shall have been offered a it reasonable opportunity opportunities either itself to proceed to exercise the powers hereinbefore granted or to institute an action, suit or proceeding in its own name for such purpose; (b) the Debentureholders or any of them ; nor unless also such debentureholders shall have furnished offered to the Trustee, when so requested by the Trustee, sufficient funds and an security and indemnity in accordance with subsection 12.3(2)satisfactory to it against the costs, expenses and liabilities to be incurred therein or thereby; and (c) nor unless also the Trustee shall have failed to act within a reasonable time thereafter. (2) In after such event but not otherwise notification, request and offer of indemnity; and such notification, request and offer of indemnity are hereby declared in every such case, at the option of the Trustee, to be conditions precedent to any Debentureholder, acting such proceeding or for any other remedy hereunder by or on behalf of himself and all other Debentureholders, shall be entitled to take proceedings in the holder of any court of competent jurisdiction such as the Trustee might have taken under section 7.5, but in no event shall any Debentureholder Debentures or combination of Debentureholders have any right to take any 144554\0512933.WP other remedy or proceedings; it being understood and intended that no one or more Holders of Debentures shall have any right in any manner whatsoever to enforce any right hereunder or under any Debenture except subject to the conditions and in the manner herein provided, and that all powers and trusts hereunder shall be exercised and all proceedings at law shall be instituted, had and maintained by the Trustee, except only as herein provided, and in any event for the equal benefit of all Holders of outstanding Debenturescoupons.

DEBENTUREHOLDERS MAY NOT XXX. (1) No Holder of any Debenture shall have the right to institute any action, actions suit or proceeding or to exercise any other remedy authorized or permitted by this Indenture or by law or by equity for the purpose of enforcing payment of principal or interest owing on any Debenture or for the execution of any trust or power hereunder, unless: (a) 5.6.1 such Holder shall previously have given to the Trustee written notice of the occurrence of an Event of Default; 5.6.2 the Debentureholders, by Extraordinary Resolution, Debentureholders' Request shall have made a request to the Trustee to take action hereunder or the Debentureholders' Request written request referred to in subsection 7.5(4) Subsection 5.5.4 shall have been delivered to the Trustee, and the Trustee shall have been offered a reasonable opportunity either itself to proceed to exercise the powers hereinbefore granted or to institute an action, suit or proceeding in its name for such purpose; (b) 5.6.3 the Debentureholders or any of them shall have furnished to the Trustee, when requested by the Trustee, sufficient funds and an indemnity in accordance with subsection 12.3(2)Subsection 10.3.2; and (c) 5.6.4 the Trustee shall have failed to act within a reasonable time thirty (30) days thereafter. (2) . In such event but not otherwise otherwise, any Debentureholder, acting on behalf of himself and all other Debentureholders, shall be entitled to take proceedings in any court of competent jurisdiction such as the Trustee might have taken under section 7.5Section 5.5, but in no event shall any Debentureholder or combination of Debentureholders have any right to take any 144554\0512933.WP other remedy or proceedings; it being understood and intended that no one or more Holders of Debentures shall have any right in any manner whatsoever to enforce any right hereunder or under any Debenture except subject to the conditions and in the manner herein provided, and that all powers and trusts hereunder shall be exercised and all proceedings at law shall be instituted, had and maintained by the Trustee, except only as herein provided, and in any event for the equal benefit of all Holders of outstanding Debentures.

DEBENTUREHOLDERS MAY NOT XXX. (1) No Holder of any Debenture shall have the right to institute any action, suit or proceeding or to exercise any other remedy authorized or permitted by this Debenture Indenture or by law or by equity for the purpose of enforcing payment of principal or interest owing on any rights pursuant to this Debenture or for the execution of any trust or power hereunderIndenture, unless: (a) such Holder shall previously have given to the Debenture Trustee, or vice-versa, written notice of the occurrence of an Event of Default; (b) the Debentureholders, by Extraordinary Resolution, shall have made a request to the Debenture Trustee to take action hereunder or the Debentureholders' ’ Request referred to in subsection 7.5(49.5(d) shall have been delivered to the Debenture Trustee, and the Debenture Trustee shall have been offered a reasonable opportunity either itself to proceed to exercise the powers hereinbefore granted or to institute an action, suit or proceeding in its name for such purpose; (bc) the Debentureholders or any of them shall have furnished to the Debenture Trustee, when requested by the Debenture Trustee, sufficient funds and an indemnity in accordance with subsection 12.3(214.4(b); and (cd) the Debenture Trustee shall have failed to act within a reasonable time thereafter. (2) . In such event but not otherwise any Debentureholder, acting on behalf of himself and all other Debentureholders, shall be entitled to take proceedings in any court of competent jurisdiction such as the Debenture Trustee might have taken under section 7.59.5, but in no event shall any Debentureholder or combination of Debentureholders have any right to take any 144554\0512933.WP other remedy or proceedingsproceedings out of court; it being understood and intended that no one or more Holders of Debentures shall have any right in any manner whatsoever to enforce any right hereunder or under any Debenture except subject to the conditions and in the manner herein provided, and that all powers and trusts hereunder shall be exercised and all proceedings at law shall be instituted, had and maintained by the Debenture Trustee, except only as herein provided, and in any event for the equal benefit of all Holders of outstanding Debentures.